Synopsis
Vietnam has one of the world's most dynamic and rapidly expanding insurance industries, providing growth potential for life insurers. Vietnamese GDP rose from VND1.3 quadrillion (US$73.6 billion) in 2009 to VND1.9 quadrillion (US$92.3 billion) in 2013, at a review-period (2009-2013) compound annual growth rate (CAGR) of 5.8%, placing it as one of the fastest-growing economies in the South East Asian region. The life segment was the largest industry segment, accounting for 45.6% of the industry's gross written premium in 2013. The segment's growth was partly supported by a rise in the volume of middle class individuals.
Summary
The report provides in-depth market analysis, information and insights into the Vietnamese life insurance segment, including:
Vietnam has one of the world's most dynamic and rapidly expanding insurance industries, providing growth potential for life insurers. Vietnamese GDP rose from VND1.3 quadrillion (US$73.6 billion) in 2009 to VND1.9 quadrillion (US$92.3 billion) in 2013, at a review-period (2009-2013) compound annual growth rate (CAGR) of 5.8%, placing it as one of the fastest-growing economies in the South East Asian region. The life segment was the largest industry segment, accounting for 45.6% of the industry's gross written premium in 2013. The segment's growth was partly supported by a rise in the volume of middle class individuals.
Summary
The report provides in-depth market analysis, information and insights into the Vietnamese life insurance segment, including:
The Vietnamese life insurance segment's growth
prospects by life insurance category
Key trends, drivers and challenges for the
life insurance segment
The various distribution channels in the
Vietnamese life insurance segment
The detailed competitive landscape in the life
insurance segment in Vietnam
Detailed regulatory policies of the Vietnamese
insurance industry
Analysis of various consumer segments in
Vietnamese life insurance
Key developments in the Vietnamese life
insurance segment
New products launched by Vietnamese life
insurers
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Scope
This report provides a comprehensive analysis of the life insurance segment in Vietnam:
It provides historical values for the
Vietnamese life insurance segment for the report's 2009-2013 review period, and
projected figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key
categories in the Vietnamese life insurance segment, along with market
forecasts until 2018.
It covers an exhaustive list of parameters,
including written premium, incurred loss, loss ratio, commissions and expenses,
combined ratio, frauds and crimes, total assets, total investment income and
retentions.
It analyses the various distribution channels
for life insurance products in Vietnam.
It profiles the top life insurance companies
in Vietnam and outlines the key regulations affecting them.
Reason To Buy
Make strategic business decisions using in-depth historic and forecast market data related to the Vietnamese life insurance segment and each category within it.
Reason To Buy
Make strategic business decisions using in-depth historic and forecast market data related to the Vietnamese life insurance segment and each category within it.
Understand the demand-side dynamics, key
market trends and growth opportunities in the Vietnamese life insurance
segment.
Assess the competitive dynamics in the life
insurance segment.
Identify the growth opportunities and market
dynamics in key product categories.
Gain insights into key regulations governing
the Vietnamese insurance industry and their impact on companies and the
industry's future.
Key Highlights
Vietnam has one of the world's most dynamic and rapidly expanding insurance industries, providing growth potential for life insurers.
Key Highlights
Vietnam has one of the world's most dynamic and rapidly expanding insurance industries, providing growth potential for life insurers.
The life segment was the largest industry
segment, accounting for 45.6% of the industry's gross written premium in 2013.
The segment's growth was partly supported by a
rise in the volume of middle class individuals.
The country's unemployment rate also decreased
from 2.3% in 2009 to 2.1% in 2013. This created employment opportunities and
improved the spending power of the middle classes.
Private pension insurance in Vietnam was
non-existence during the review period due to absence of regulatory provision
to sell pension products and low awareness.
The Vietnamese government brought in a new
regulatory framework for pension insurance in October 2013.
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